MoonPay's New York Charter Solidifies Bridge Between Traditional and Digital Finance

MoonPay, a leading crypto payments platform, has secured a New York Limited Purpose Trust Charter from the New York State Department of Financial Services (NYDFS), expanding its regulated services to include digital asset custody and over-the-counter (OTC) trading. The approval positions MoonPay as one of a select group of firms-joining Coinbase, PayPal, Ripple, and NYDIG-that hold both a BitLicense and a New York Trust Charter, reinforcing its commitment to compliance and institutional-grade security.

The charter allows MoonPay to act as a fiduciary for clients, a critical requirement for traditional financial institutions seeking crypto exposure. According to company statements, "Receiving our New York Trust Charter reflects our commitment to meeting the highest standards of compliance, security, and governance," said Ivan Soto-Wright, MoonPay's co-founder and CEO, in a statement. The move strengthens the company's ability to partner with global financial institutions and expand its offerings in a rapidly evolving regulatory landscape according to financial analysis.

The New York Trust Charter also opens potential pathways for MoonPay to issue stablecoins compliant with the federal GENIUS Act, though such efforts would require separate NYDFS approval. The company has already launched initiatives to support stablecoin issuance, aligning with broader industry trends as traditional finance firms explore crypto integration.

MoonPay's dual licensing underscores its strategic pivot toward institutional infrastructure. The firm, which serves over 30 million customers and powers services for nearly 500 companies, has previously expanded its footprint through acquisitions of firms like Solana-based Helio and stablecoin infrastructure provider Iron. Its New York Trust Company subsidiary complements existing licenses in the U.S., U.K., EU, Canada, and Australia, solidifying its role as a bridge between traditional and digital finance.

The approval comes amid heightened regulatory scrutiny in the crypto sector. While MoonPay has prioritized state-level compliance, industry analysts note that the company's approach contrasts with others pursuing federal charters, such as the Office of the Comptroller of the Currency. Eleanor Terrett, an industry analyst, highlighted the significance of MoonPay's New York compliance, stating it reflects "bulletproof" adherence to regulatory standards.

With the charter, MoonPay joins a growing list of firms navigating the intersection of crypto and traditional finance. Its expansion into custody and OTC trading services could attract banks and asset managers seeking secure, regulated partners in the digital asset space according to financial analysis.